Nestle India Share Price Live Updates: Nestle India faces a tough month with negative returns
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Time of India
19 hours ago
- Time of India
Dabur, Nestle, Emami shelve brands, prune staff & stall launches amid slow demand & D2C pressure
Packaged goods companies are either discontinuing non-performing brands, shelving expansion plans in slow-moving categories, or pruning manpower costs, amid challenging demand conditions, and in expectation of demand revival in core businesses over the next two quarters. Nestle India has phased out select variants of Maggi noodles such as Maggi chatpata and teekha, while homegrown Dabur India said last week it has exited diaper, tea, and health drink businesses as part of a portfolio rationalisation and to sharpen focus on core categories. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Data Analytics Management Others Design Thinking Technology Finance Degree MBA Public Policy healthcare MCA Artificial Intelligence Product Management Project Management Cybersecurity PGDM CXO Data Science Data Science others Operations Management Healthcare Leadership Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Facing "mixed reaction" to its Sting Gold energy drink, PepsiCo's bottling partner Varun Beverages Ltd (VBL) said it is evaluating "traction among consumers". "We are rationalising manpower costs. Sales of large packs declined due to unseasonal rains, since there were less outdoor events and functions," said Varun Jaipuria, executive vice-chairman, VBL, on a quarterly earnings call last week. "We also couldn't add temporary shops particularly in rural markets in summer, which we do otherwise." ET Bureau Almost all makers of summer-centric products such as soft drinks, cold juices, and ice-creams, who tend to set up temporary small shops, especially in small towns and rural markets to cater to seasonal demand, had to abort their plans this year following unseasonal and consistent rains since March. The weather office predicted that India is likely to receive above-normal rainfall in the second half of the monsoon season during August and September. The first half saw above-normal rainfall, with some regions like Himachal Pradesh reporting flash floods and landslides. Distributors noted that previously companies would test market products for at least 12-15 months before discontinuing them if sales lag expectations, which has since narrowed to only a few months. "At least two dozen low-performing sub-brands are going off shelves across tea, Ayurvedic creams and oral care, toothpaste, and soap, owned by large-listed companies, something that's unprecedented within a short phase. These companies have told us that after the present stocks are exhausted, there will be no future replenishment," said an executive at a prominent distributor of FMCG products in New Delhi. "Taking up shelf space, transportation of such packs all add to costs," he said, asking not to be named, citing confidentiality clauses. Emami 's hair oil business led by the Kesh King brand declined 5% year-on-year, particularly impacted by direct-to-consumer (D2C) or online-only brands, while male grooming fell 9% year-on-year. The company is currently revamping these businesses with "strategic transformations". Emami, which also makes BoroPlus cream and Dermicool talc, said it will relaunch the Kesh King hair oil franchise in the current quarter to improve brand relevance and future growth. "The Man Company is undergoing a brand revamp with a sharper positioning," Emami said in the management commentary of its June quarter results. It highlighted the emergence of D2C competitors "as a significant challenge, particularly in the male grooming category." Most listed FMCG companies have provided guidance of high single-digit growth for FY26, on the back of sequential demand recovery, aided by a better-than-expected monsoon, easing food inflation, rural momentum and green shoots of urban revival. Research firm Numerator, formerly Kantar, said in a report last week that demand for groceries, and household and personal care, slowed to 3.9% by volume year-on-year in the June quarter, impacted by unseasonal rains.
Economic Times
3 days ago
- Economic Times
Goldman Sachs poised to buy into ice cream maker Froneri at $17.13 billion valuation: Report
Goldman Sachs Synopsis Goldman Sachs is reportedly nearing a deal to acquire a stake in ice cream giant Froneri, valuing the company at approximately 15 billion euros, including debt. The potential transaction would see Goldman Sachs' asset management arm become the primary investor through a continuation vehicle established by PAI Partners. Goldman Sachs is poised to buy into ice cream maker Froneri at a 15-billion-euro ($17.13 billion) valuation including debt, the Financial Times reported on Friday. ADVERTISEMENT Reuters could not immediately verify the report. The deal, which could be signed as soon as September, would involve Goldman's asset management division becoming the lead investor in a continuation vehicle established by French private equity firm PAI Partners, the report said citing sources. Froneri is a joint venture between Switzerland-based Nestle and PAI unit R&R Ice Cream, set up in 2016, with the two merging their European ice cream business in 20 countries. Nestle also sold its U.S. ice cream business to Froneri in 2019 in a $4 billion-deal, giving it control of Haagen-Dazs and other Nestle brands. Goldman Sachs and Nestle did not immediately respond to Reuters' requests for comment, while PAI and Froneri could not be immediately reached for comment. ADVERTISEMENT (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. NEXT STORY
Time of India
3 days ago
- Time of India
Goldman Sachs poised to buy into ice cream maker Froneri at $17.13 billion valuation: Report
Goldman Sachs is poised to buy into ice cream maker Froneri at a 15-billion-euro ($17.13 billion) valuation including debt, the Financial Times reported on Friday. Reuters could not immediately verify the report. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science PGDM Digital Marketing Project Management Artificial Intelligence Finance Public Policy Technology MBA Cybersecurity Data Science Others Data Analytics CXO Healthcare Design Thinking Operations Management Management Leadership Product Management Degree others MCA healthcare Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details The deal, which could be signed as soon as September, would involve Goldman's asset management division becoming the lead investor in a continuation vehicle established by French private equity firm PAI Partners , the report said citing sources. Froneri is a joint venture between Switzerland-based Nestle and PAI unit R&R Ice Cream, set up in 2016, with the two merging their European ice cream business in 20 countries. Nestle also sold its U.S. ice cream business to Froneri in 2019 in a $4 billion-deal, giving it control of Haagen-Dazs and other Nestle brands. Live Events Goldman Sachs and Nestle did not immediately respond to Reuters' requests for comment, while PAI and Froneri could not be immediately reached for comment. Economic Times WhatsApp channel )
